This study note is an introduction to the ideas and concepts behind actuarial work. The examples
have been restricted to insurance, though many of the concepts can be applied to any situation
where uncertain events create financial risks.
Later Casualty Actuarial Society and Society of Actuaries exams cover topics including:
adjustment for investment earnings; frequency models; severity models; aggregate loss models;
survival models; fitting models to actual data; and the credibility that can be attributed to past data.
In addition, both societies offer courses on the nature of particular perils and related business
issues that need to be considered.